User Local (TSE:3984) E10: 円0.00 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:3984 User Local Inc TSE:3984
90 GF Score
Price 円1,535.00
GF Value 円2,653.58
Valuation Significantly Undervalued
View Full Analysis

What is User Local E10?

User Local TSE:3984 +0.72% 90 E10 is 円0.00 as of Mar. 2026. GuruFocus rates TSE:3984 with a GF Score™ of 90/100 and a GF Value™ of 円2,653.58 (Significantly Undervalued).

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

User Local's adjusted earnings per share data for the three months ended in Mar. 2026 was 円29.370. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円0.00 for the trailing ten years ended in Mar. 2026.

During the past 12 months, User Local's average E10 Growth Rate was 21.30% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

As of today (2026-08-28), User Local's current stock price is 円1535.00. User Local's E10 for the quarter that ended in Mar. 2026 was 円0.00. User Local's Shiller PE Ratio of today is .

During the past 12 years, the highest Shiller PE Ratio of User Local was 63.07. The lowest was 30.08. And the median was 52.73.


User Local  (TSE:3984) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

During the past 12 years, the highest Shiller P/E Ratio of User Local was 63.07. The lowest was 30.08. And the median was 52.73.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


User Local E10 Related Terms


User Local E10 Historical Data

* Premium members only.

The historical data trend for User Local's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

User Local E10 Chart

User Local Annual Data
Trend Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 34.31 43.23 52.43

User Local Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 43.23 0.00 0.00 0.00 52.43

TSE:3984 vs IBM, ACN, FISV: E10 Comparison

For the Information Technology Services subindustry, User Local's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


User Local Shiller PE Ratio vs Software Industry

For the Software industry and Technology sector, User Local's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where User Local's Shiller PE Ratio falls into.


TSE:3984
90GF Score
User Local Inc TSE:3984
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

User Local E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, User Local's adjusted earnings per share data for the three months ended in Mar. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=29.37/112.7000*112.7000
=29.370

Current CPI (Mar. 2026) = 112.7000.

User Local Quarterly Data

per share eps CPI Adj_EPS
0.000 0.000
201506 0.000 98.400 0.000
201606 0.000 98.100 0.000
201612 0.000 98.400 0.000
201703 4.110 98.100 4.722
201706 4.653 98.500 5.324
201709 5.063 98.800 5.775
201712 5.315 99.400 6.026
201803 5.070 99.200 5.760
201806 4.013 99.200 4.559
201809 6.020 99.900 6.791
201812 4.670 99.700 5.279
201903 5.905 99.700 6.675
201906 4.460 99.800 5.036
201909 6.910 100.100 7.780
201912 6.270 100.500 7.031
202003 6.985 100.300 7.849
202006 6.455 99.900 7.282
202009 8.230 99.900 9.284
202012 9.160 99.300 10.396
202103 8.840 99.900 9.973
202106 12.060 99.500 13.660
202109 11.050 100.100 12.441
202112 13.210 100.100 14.873
202203 10.470 101.100 11.671
202206 10.000 101.800 11.071
202209 13.310 103.100 14.549
202212 15.120 104.100 16.369
202303 10.960 104.400 11.831
202306 19.820 105.200 21.233
202309 17.740 106.200 18.826
202312 19.110 106.800 20.166
202403 19.110 107.200 20.090
202406 17.610 108.200 18.342
202412 0.000 110.700 0.000
202503 13.170 111.100 13.360
202506 32.750 111.700 33.043
202509 26.920 112.000 27.088
202512 30.220 113.000 30.140
202603 29.370 112.700 29.370

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of 円0.00 mean?
User Local (TSE:3984) has a E10 of 円0.00 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on User Local and its competitors.
Is User Local's E10 too high?
User Local's current E10 is 円0.00. Overall, User Local has a GF Score™ of 90/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does User Local's E10 compare to IBM and ACN?
User Local's E10 of 円0.00 can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Software company?
A good E10 depends on the Software industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on User Local and its competitors. User Local's current E10 is 円0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is User Local stock overvalued right now?
Based on GuruFocus' analysis, User Local (TSE:3984) is currently considered Significantly Undervalued. The stock's GF Value™ is 円2,653.58, compared to a current price of 円1,535.00 — trading 42.2% below its estimated fair value. The current E10 is 円0.00. User Local's overall GF Score™ is 90/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For User Local (TSE:3984), the current E10 is 円0.00 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is User Local (TSE:3984) Overvalued in 2026?

Based on GuruFocus' analysis, User Local stock appears to be undervalued. The current stock price of 円1,535.00 is trading 42.2% below its estimated GF Value™ of 円2,653.58. GuruFocus considers User Local to be Significantly Undervalued.

Key valuation signals for TSE:3984:

  • E10: 円0.00
  • GF Value™: 円2,653.58 vs. price of 円1,535.00 (42.2% below fair value)
  • GF Score™: 90/100

No single metric tells the full story. See the TSE:3984 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


User Local Business Description

Address 5-20-6 Shiba, Minato-ku, Tokyo, JPN, 108-0014
User Local Inc is engaged in the research and development of big data analysis system, web marketing support tool, offering media analysis tool, and managing artificial intelligence chat bot.
90GF Score

Get the complete analysis for TSE:3984

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円1,535.00
Price
円2,653.58
GF Value